https://www.taxtmi.com/caselaws?id=356605 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and affirming the Assessee's entitlement to deduction under Section 80P(2)(a)(i) of the Income Tax Act on interest income from Fixed Deposits. The Tribunal distinguished the case law cited by the Revenue, emphasizing the Assessee's income source as surplus funds, not liabilities, qualifying for the deduction. The decision aligned with the principle of consistency, supported by previous High Court rulings. The appeal was dismissed on 01.03.2018. en-us Thu, 01 Mar 2018 00:00:00 +0530 Mon, 14 May 2018 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356605 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal and affirming the Assessee's entitlement to deduction under Section 80P(2)(a)(i) of the Income Tax Act on interest income from Fixed Deposits. The Tribunal distinguished the case law cited by the Revenue, emphasizing the Assessee's income source as surplus funds, not liabilities, qualifying for the deduction. The decision aligned with the principle of consistency, supported by previous High Court rulings. The appeal was dismissed on 01.03.2018. Case-Laws Income Tax Thu, 01 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356605